Today's key data comes from the EU and Canada with a gaggle of PMI data out of the EU and its major counterparts leading the way in early trade while the loony awaits CPI and Retail data out of Canada as it hopes to extend its recent gains which have been helped along by stable to rising crude oil prices. Better than expected data in general has a positive impact on the respective currency while worse than expected data has a deprecating effect on the relative currencies.

Today's key data is as follows:

EU

  • French Flash Manufacturing PMI expected at 48.4
  • French Flash service PMI expected at 52.0
  • German Flash Manufacturing PMI expected at 53.2
  • German Flash service PMI expected at 52.2
  • Flash Manufacturing PMI expected at 51.5
  • Flash service PMI expected at 52.8

CAD

  • Core CPI m/m expected at 0.2%
  • Core Retail sales m/m expected at 0.5%
  • CPI m/m expected at 0.1%
  • Retail Sales expected at 0.2%